Freehold Townhouse vs. Condo Townhouse
Since most detached and semi detached homes are freehold, there have been a lot of inquiries about what are freehold townhouses or freehold townhomes. In short and in layman terms Freehold is the term used to describe a dwelling and the land on which it stands and is owned by the owner until they choose to sell it. As compared to freehold townhomes, condominium townhomes (in short called condo townhomes) are leasehold properties where the property is on lease to the corporation who then charges a monthly fee to the owner of that condo townhome towards common area expenses, i.e. lighting, mowing the lawn, shoveling the snow, etc. Very often the question arises about Freehold versus condo and the differences between them.
Usually, freehold townhouses, freehold town homes, free hold houses, freehold rowhouse or row housing, labeled as Att/Row/Twnhouse in the MLS system, cost more than condo townhouses, condo town homes for the same space and charecteristics. Freehold townhouses do not have a maintainance fee to be paid to any condo corporation. The backyard of freehold townhouses are mostly fenced and offers more privacy than condo townhomes. Since an individual townhome is an entity by itself, all utilities are paid by the owner of the townhome. In some condo townhomes, some utility like water is paid by the condominium corporation and that is included in the monthly maintenance fees. Peel Condominium Corporation (PCC) is an example of a condo corporation.
Freehold townhouses or freehold townhomes, or attached row house is similar in ownership rules to a detached or semi detached home; the main difference being each row house or freehold townhouse or freehold townhome is attached to another.
There are also condo detached homes, where a group of detached homes built by the builder form part of a corporation and pay maintenance fees every month.
If you need to know any further information about freehold townhouses or freehold townhomes, please contact me.